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    Spring Hill Dr Spring Hill, FL 34609

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    Spring Hill Dr Spring Hill, FL 34609

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    • Land
    • 9.40 lot acres
    For Sale
    $4,000,000
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    Suncoast Parkway Commercial Land For Sale
    $4,000,000

    Suncoast Parkway Commercial Land

    Prime Spring Hill development site, 9.4 acres.

    Brooksville, FL 34609
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Spring Hill Dr

    Lot size
    9.40 lot acres
    Property type
    Land

    Description

    This exceptional 9.4-acre commercial land parcel presents a unique investment opportunity in the thriving Spring Hill, Florida market. Strategically located on Spring Hill Drive at the Suncoast Parkway, this property offers unparalleled visibility and accessibility. The site is already entitled for commercial development, significantly reducing time and costs associated with permitting. The land is comprised of two separate 0.9-acre parcels ideal for retail development, situated at the entrance to the bustling Barclay retail node, ensuring high foot traffic and strong potential for tenant occupancy. In addition to the retail parcels, a substantial 7.4-acre portion is entitled for self-storage development, allowing for the construction of approximately 120,000 square feet of self-storage units. This mixed-use potential maximizes the return on investment, offering flexibility and diversification. Located in Hernando County, Florida, with a zip code of 34609, this property boasts an enviable location with easy access to major transportation arteries, making it an attractive proposition for a wide range of commercial ventures. The asking price for this prime development site is $4,000,000. Broker co-op is available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Spring Hill
    County
    Hernando
    State
    Florida
    Longitude
    -82.5083
    Latitude
    28.4684

    Comparable in this City

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      9.40 Acres

      14500 Spring Hill Dr

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      4.40 Acres

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      13786 Linden Dr

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      13615 Linden Dr

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    Similar Nearby for Sale

    • $4,000,000
      9.40 Acres

      Suncoast Parkway Commercial Land

      Prime Spring Hill development site, 9.4 acres.
      0 Spring Hill Dr, Spring Hill, FL 34609
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale in Spring Hill, Florida.
      14500 Spring Hill Dr, Spring Hill, FL 34609
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      Land For Sale

      Land available in Spring Hill, Florida.
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      Prime Commercial Land Opportunity

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      Residential Land in Spring Hill

      Residential land suitable for building a dream home.
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      Land Available in Spring Hill

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      Retail Space in Publix-Anchored Center

      Build-to-suit opportunity in a high-traffic shopping center.
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      13455 County Line Road, Spring Hill, FL 34609

      Shopping centers
      13455 County Line Rd, Spring Hill, FL 34609
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      Commercial Space in Spring Hill

      Three-unit commercial space available for rent in Spring Hill.
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    View Listing
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    Spring Hill Dr
    Spring Hill, FL 34609
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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